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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Restricted Stock Units | (2) | 08/23/2022 | M | 125,000 | (4) | (5) | Common Stock | 125,000 | $ 0 | 148,293 | D | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
| Ballard Westervelt T. JR 11750 KATY FWY, SUITE 900 HOUSTON, TX 77079 |
X | President and CEO | ||
| /s/ Andrew Puhala, Attorney-in-Fact for Westervelt T. Ballard, Jr. | 08/25/2022 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | RSU Vesting. See additional details at footnotes 2 and 3. |
| (2) | The Restricted Stock Units ("RSUs") were awarded to the reporting person pursuant to the Stabilis Solutions, Inc. 2019 Long Term Incentive Plan (the "LTIP"). Each RSU represents the right to receive upon vesting, one share of Stabilis Solutions, Inc. Common Stock. |
| (3) | Value of the shares based on the closing price of the stock on the vesting date. |
| (4) | Awarded 500,000 RSUs. 250,000 vested immediately on 8/23/21; 125,000 RSUs vested on 8/23/22 (presented above) and 125,000 RSUs will vest on 8/23/23. Awarded 23,293 RSUs with 3 Year Graded vesting scheudule. |
| (5) | Unless earlier forfeited under the terms and conditions of the award agreement, the RSUs expire immediately following vesting. |